ED Attaches Ex-TTD Member Sekher Reddy’s Assets Worth Rs 34 Crore 

The enforcement directorate officials in Chennai attacked properties worth Rs 33.74 crore belonging to former TTD board member J Sekhar Reddy and his associates in connection with exchange of old notes to new currency notes under the provisions of Prevention of Money Laundering Act, 2002 (PMLA).

The ED is currently investigating Sekhar Reddy in the CBI cases registered in relation to seizure of about Rs. 34 crores of new currency notes. An ED release said that Sekhar Reddy had admitted during the interrogation that the seized money was unaccounted money. Investigations revealed that the old demonetised currencies are converted to New currencies through various persons on commission basis.